At the same time supplementary food such as fortified yoghurt, biscuits, fortified bread and fortified food supplements with different nutritional qualities, will be sourced from the private sector which will enhance the local economy,' he stated.
1997 Balanced Budget and Taxpayer Relief Act. SUMMARY: The Balanced Budget Act of 1997 (a spending bill) and the Taxpayer Relief Act of 1997 (a tax bill) legislated the elimination of the annual budget deficit by 2002.n the end, tax revenues were increasing at such a rate that the federal budget went into surplus several years ahead of schedule in FY 1998 and continued in surplus in 1999, 2000, and 2001. FURTHER INFORMATION: Balanced Budget Act of 1997 (Pub. Law No.: 105-33).
Now for the bad news for GOP partisans. The federal budget has not been balanced by any Republican spending reductions. Uncle Sam now spends $150 billion more than in 1995. Over the past 10 years, the defense budget, adjusted for inflation, has been cut $100 billion, but domestic spending has risen by $300 billion.We have a balanced budget today that is mostly a result of 1) an exceptionally strong economy that is creating gobs of new tax revenues and 2) a shrinking military budget.art of the explanation for the balanced budget is that Republicans in Congress had the common sense to reject the most reckless features of Clintonomics. Just this year, Bill Clintonâs budget proposed more than $100 billion in new social spending â proposals that were mostly tossed overboard.